Required information [The following information applies to the questions displayed below.] Assume you are the president of High Power Corporation. At the end of the first year of operations (December 31), the following financial data for the company are available: Accounts Payable Accounts Receivable Cash Common Stock Dividends Equipment Notes Payable Operating Expenses Other Expenses Sales Revenue Supplies $ 33,600 11,800 14,800 60,590 2,100 94,000 2,110 59,900 8,000 100,800 6,500 2. Prepare a statement of retained earnings for the year ended December 31. HIGH POWER CORPORATION Statement of Retained Earnings Retained Earnings, January 1 Retained Earnings, December 31